Urban Development Fund

The Market test for the financial instrument “Urban Development Fund”

FMFIB extends the deadline for the market test of the financial instrument Urban Development Fund, financed by Operational programme “Regions in growth”, up until 21.04.2017 (inclusive). This is being done in order to continue the discussions with interested market participants, as well as to further develop the potential cooperation with International Financial Institutions and enhance the structure of the financial instrument.

FMFIB has initiated a market test with respect to the selection of financial intermediaries to implement the financial instrument “Urban Development Fund” (UDF). The process is expected to contribute to the design and implementation of the financial instrument by aligning its structure to the prevailing market trends and the overall views of the relevant stakeholders.

The UDF financial instrument is part of the portfolio of the Fund of Funds, managed by FMFIB. The instrument is funded by the Operational Programme Regions in Growth 2014-2020 and has a cumulative public budget in excess of BGN 353 million that is expected to mobilise additional private resources.

The investment strategy envisages the establishment of three regional UDFs focusing on Sofia, North and South Bulgaria, respectively. The funds would enhance and develop the access to financing for sponsors developing projects related to urban development, energy efficiency and tourism.

The Indicative term sheet and the short Presentation (attached) provide further details about the intended structure of the UDF.

FMFIB organise interviews with various stakeholders who have filled in and submitted the preliminary short Questionnaire (attached).

Please book your meeting using the following link: https://calendly.com/udf/market-test.

We welcome any suggestions or recommendations from your side received at UDF_OPRG@fmfib.bg. In the meantime, our team would be happy to respond to your questions or queries on +359 2 801 40 50.